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FRONTIER LITHIUM FILES YEAR-END MARCH 31, 2023 FINANCIAL RESULTS
FRONTIER LITHIUM FILES YEAR-END MARCH 31, 2023 FINANCIAL RESULTS Canada NewsWire ...
About this update from Frontier Lithium Inc.
[{"type":"text","content":"\n \n \n \n FRONTIER LITHIUM FILES YEAR-END MARCH 31, 2023 FINANCIAL RESULTS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n SUDBURY, ON\n \n \n ,\n \n \n July 28, 2023\n \n \n /CNW/ -\n \n Frontier Lithium Inc.\n \n (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (\"Frontier\" or the \"Company\") today announced the filing of its audited financial statements for the year ended March 31, 2023 (the \"2023 Annual Financial Statements\"). The financial statements, the related management's discussion and analysis (\"MD&A) and Annual Information Form (\"AIF\") have been filed on SEDAR and can be viewed under the Company's profile at\n \n www.sedarplus.ca\n \n .\n \n \n \n \n \n \n \n \n \n The Company continues to advance its PAK Lithium Project by assessing the viability of constructing and operating a fully-integrated lithium mining and chemicals company to deliver battery -grade lithium carbonate and lithium hydroxide for the burgeoning lithium-ion battery market in North America.\n \n \n Highlights for the Year Ended March 31, 2023 and Recent Developments\n \n \n \n At March 31, 2023 the Company had cash and cash equivalents of C$27.4 million;\n \n \n Successfully completed a bought deal prospectus offering for\n \n $23\n \n million in\n \n November 2022\n \n ;\n \n \n Completed 14,461 metres of drilling during Phase XII and11,310 meters during Phase XIII drilling programs;\n \n \n In\n \n May 2023\n \n the Company delivered strong results in a Pre-Feasibility Study (\"PFS\") for a proposed mine-to lithium chemical/refining plant facility (\"Integrated Project\") in the great Lakes Region of\n \n North America\n \n . The results of the PFS include a pre-tax net present value at an 8 percent discount rate of\n \n US$2.59 billion\n \n with a pre-tax internal rate of return of 28.6 percent and a post-tax NPV at an 8 percent discount rate of\n \n US$1.74 billion\n \n with a post-tax IRR of 24.1 percent;\n \n \n Strengthened the Company's management team with the appointment of Dr. ...